Many of us are in a different financial position to what they might’ve expected right now. But if your piggy bank is starting to dwindle and your purse strings are feeling tight, there are ways to save your, well, savings. It will require some lifestyle shifts, though.
Are you ready?
Sitting down?
Feel prepared?
Here’s some things you can try.
Shop secondhand
Set yourself a secondhand challenge. The aim of the game is fairly obvious – only buy used goods. I’m talking thrift store outfits, Gumtree pot plants, FB Marketplace surfboards. Whatever you need you can almost definitely find secondhand.
Plus, they won’t be half as spenny as their newer siblings. The only exceptions to the secondhand rule would be undies and toothbrushes because, like, gross. Don’t be that guy. Other than that, you’re doing a real solid for the environment in the process, which is amazing.
Make your car work harder for you
Sure, cars are handy, but when you add up the annual rego bills, trips to the mechanic, and cost of petrol you’re looking at a mountain of money. You might want to assess if the cost of your car is actually proportionate to its benefits, and then look at ways you can make it work harder for you.
Could you sell it and use GoGet or public transport or the occasions you might need it, if rare? Could that free up the opportunity to rent out your car space, if you have one, on platforms like Parkhound? If you’re only using it for small trips, it’s definitely worth considering whether or not that carbon footprint is necessary. Could you walk instead?
Think hard about your living arrangements
It’s an interesting time right now – the rental market is flooded with reduced prices and landlords are super open to negotiating rent. Have you looked into your options?
Moving is never fun but, while we’re working from home, it could actually be the best time to do it – if you’re so inclined, and there’s better things out there, that is. If you’re in no hurry, you could even move back in with your folks (if that’s an option), and pay no rent at all.
But hey, it’s not for everyone. Just see what’s out there – if you’re on a month-by-month or not on a lease at all, what’s the harm?
Stop buying exxy food
We don’t mean all together. Food is life. Literally. But takeaway delivery is not. If you need to save cash, it’s time to delete UberEats and start meal planning. Setting yourself a meal budget will work wonders for your bank account if you stick to it.
It also limits the number of times you duck down to the shops, thus eliminating the opportunities for you to impulse buy bulk kombucha and really, really expensive vegan ice cream.
Of course, all these don’t take your objectives or financial situation into account and you should seek relevant professional advice.
